PETROLEO BRASIL/ADR (NYSE:PBR) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 34,594,500 shares, a growth of 33.4% from the May 15th total of 25,931,100 shares. Based on an average daily volume of 15,770,000 shares, the days-to-cover ratio is currently 2.2 days. Approximately 0.9% of the company’s shares are sold short.
Several hedge funds have recently modified their holdings of the company. Lindbrook Capital LLC lifted its holdings in shares of PETROLEO BRASIL/ADR by 72.2% in the 1st quarter. Lindbrook Capital LLC now owns 1,691 shares of the oil and gas exploration company’s stock worth $26,000 after acquiring an additional 709 shares during the last quarter. Gould Asset Management LLC CA lifted its holdings in PETROLEO BRASIL/ADR by 17.1% during the 1st quarter. Gould Asset Management LLC CA now owns 12,250 shares of the oil and gas exploration company’s stock worth $195,000 after buying an additional 1,785 shares in the last quarter. Wetherby Asset Management Inc. lifted its holdings in PETROLEO BRASIL/ADR by 6.8% during the 1st quarter. Wetherby Asset Management Inc. now owns 39,940 shares of the oil and gas exploration company’s stock worth $636,000 after buying an additional 2,532 shares in the last quarter. Advisory Services Network LLC lifted its holdings in PETROLEO BRASIL/ADR by 190.4% during the 1st quarter. Advisory Services Network LLC now owns 4,951 shares of the oil and gas exploration company’s stock worth $79,000 after buying an additional 3,246 shares in the last quarter. Finally, AGF Investments Inc. lifted its holdings in PETROLEO BRASIL/ADR by 4.0% during the 1st quarter. AGF Investments Inc. now owns 95,299 shares of the oil and gas exploration company’s stock worth $1,517,000 after buying an additional 3,663 shares in the last quarter. Hedge funds and other institutional investors own 7.23% of the company’s stock.
Several research firms have weighed in on PBR. ValuEngine upgraded shares of PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating in a report on Friday, June 7th. Zacks Investment Research upgraded shares of PETROLEO BRASIL/ADR from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 7th. Credit Suisse Group upgraded shares of PETROLEO BRASIL/ADR from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $15.00 to $21.00 in a report on Monday, April 8th. Finally, HSBC upgraded shares of PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. PETROLEO BRASIL/ADR has an average rating of “Buy” and a consensus target price of $18.50.
Shares of PBR stock traded down $0.12 during trading hours on Wednesday, hitting $15.86. The company had a trading volume of 58,240,600 shares, compared to its average volume of 16,819,816. The business’s fifty day moving average is $14.92. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 1.30. PETROLEO BRASIL/ADR has a fifty-two week low of $9.70 and a fifty-two week high of $17.90. The firm has a market capitalization of $108.20 billion, a PE ratio of 11.09 and a beta of 1.51.
PETROLEO BRASIL/ADR (NYSE:PBR) last issued its quarterly earnings data on Thursday, May 2nd. The oil and gas exploration company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.06). PETROLEO BRASIL/ADR had a return on equity of 10.35% and a net margin of 6.50%. The company had revenue of $21.23 billion during the quarter, compared to analyst estimates of $21.65 billion. Equities research analysts expect that PETROLEO BRASIL/ADR will post 1.29 earnings per share for the current year.
The business also recently disclosed a special dividend, which will be paid on Monday, July 15th. Stockholders of record on Thursday, May 23rd will be issued a $0.0509 dividend. This is a positive change from PETROLEO BRASIL/ADR’s previous special dividend of $0.03. The ex-dividend date is Wednesday, May 22nd. PETROLEO BRASIL/ADR’s dividend payout ratio is currently 10.49%.
About PETROLEO BRASIL/ADR
Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries in Brazil and internationally. It engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.
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